Thursday, July 2, 2015

Gildan Activewear Inc. - GIL.t

Gildan Activewear Inc. - GIL.t is a manufacturer and marketer of branded clothing, including undecorated blank activewear such as t-shirts, sport shirts and fleeces, which are decorated by screen printing companies with designs and logos.

The company also supplies branded and private label athletic, casual and dress socks to retail companies in the U.S. including Gold Toe Brands, PowerSox, SilverToe, Auro, All Pro, and the Gildan brand. The company has about 33,000 employees.


On May 14, 2015 the company released Numbers

Consolidated Results for the Three Months Ended April 5, 2015 (First Calendar Quarter of 2015)

Gildan today reported net earnings of U.S. $56.0 million or U.S. $0.23 per share on a diluted basis for the three months ended April 5, 2015, compared with net earnings of U.S. $79.2 million or U.S. $0.32 per share in the corresponding quarter last year. Before reflecting minor restructuring and acquisition-related costs, Gildan reported adjusted net earnings of U.S. $57.5 million or U.S. $0.24 per share for the three months ended April 5, 2015, compared with adjusted net earnings of U.S. $79.2 million or U.S. $0.32 per share for the same period last year.

Adjusted EPS for the quarter were as projected in the Company’s guidance of adjusted EPS of U.S. $0.23 – U.S. $0.24 on a post-split basis, provided on February 4, 2015.
Consolidated net sales in the first calendar quarter of 2015 amounted to U.S. $636.2 million, up 15.9% from U.S. $548.8 million in the corresponding quarter of the prior year, reflecting an increase of approximately 14% in Printwear sales and sales growth of approximately 20% in Branded Apparel. Consolidated net sales in the quarter were in line with the Company’s guidance of net sales in excess of U.S. $630 million.

The EPS impact of higher sales revenues was more than offset by lower gross margins in both operating segments, as further explained below under “Segmented operating results”, together with increased SG&A and financing expenses, partially offset by lower income taxes.
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http://pennystockjournal.blogspot.com/2014/06/gildan-activewear-inc-gilt.html


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